Axonics (NASDAQ:AXNX) Sets New 52-Week High – What’s Next?

Axonics, Inc. (NASDAQ:AXNX)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $70.75 and last traded at $70.45, with a volume of 82242 shares traded. The stock had previously closed at $70.31.

Analyst Ratings Changes

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Axonics in a report on Friday. Eight research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $71.00.

Axonics Stock Down 0.0 %

The company has a market cap of $3.60 billion, a price-to-earnings ratio of -1,760.31 and a beta of 0.82. The stock’s 50-day simple moving average is $69.68 and its 200 day simple moving average is $68.41.

Insider Buying and Selling at Axonics

In other Axonics news, CFO Kari Leigh Keese sold 2,961 shares of Axonics stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $69.41, for a total value of $205,523.01. Following the completion of the transaction, the chief financial officer now directly owns 40,362 shares of the company’s stock, valued at $2,801,526.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Axonics

A number of institutional investors and hedge funds have recently made changes to their positions in AXNX. Headlands Technologies LLC grew its holdings in Axonics by 31.1% during the 1st quarter. Headlands Technologies LLC now owns 1,117 shares of the company’s stock worth $77,000 after acquiring an additional 265 shares in the last quarter. Xponance Inc. increased its holdings in Axonics by 7.5% in the second quarter. Xponance Inc. now owns 3,231 shares of the company’s stock valued at $217,000 after buying an additional 225 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in Axonics during the 1st quarter worth about $218,000. Entropy Technologies LP acquired a new position in shares of Axonics during the 3rd quarter worth about $395,000. Finally, Mercer Global Advisors Inc. ADV increased its holdings in shares of Axonics by 12.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 6,981 shares of the company’s stock valued at $469,000 after acquiring an additional 785 shares during the last quarter. 99.48% of the stock is owned by institutional investors and hedge funds.

Axonics Company Profile

Axonics, Inc, a medical technology company, engages in the development and commercialization of novel products for the treatment of bladder and bowel dysfunction. Its sacral neuromodulation (SNM) systems are used to treat patients with overactive bladder (OAB), including urinary urge incontinence and urinary urgency frequency, as well as fecal incontinence (FI) and non-obstructive urinary retention (UR); and rechargeable (R20) and recharge-free (F15) implantable SNM systems that delivers mild electrical pulses to the targeted sacral nerve to restore normal communication to and from the brain to reduce the symptoms of OAB, UR, and FI.